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Senate GSE Proposals Gain Support of Key House Member

nationalmortgagenews.com | June 4, 2015

By Brian Collins

WASHINGTON — Rep. Edward Royce, R-Calif., urged fellow House members Wednesday to support a Senate proposal that would make significant reforms to Fannie Mae and Freddie Mac.

Legislation, which is principally focused on regulatory relief, recently approved by the Senate Banking Committee would require Fannie and Freddie to conduct more securitizations involving risk-sharing with private investors.

The GSE reform proposals, which Royce said could pass Congress and be signed into law this year, would also speed up the development of the common securitization platform along with making it accessible to private issuers of mortgage-backed securities.

Some have called it "stealth GSE reform," Royce said at the National Journal housing finance event.

The two proposals, he said, would increase "private sector participation in the secondary housing market and decrease taxpayer exposures to losses."

As a senior member of the House Financial Services Committee, Rep. Royce said he will work with Chairman Jeb Hensarling, R-Texas, to pass similar proposals in the House.

"A common securitization platform and increased risk sharing are achievable policy objectives for this Congress that sets the stage for future reform," Royce said.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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